About Peter Kenny

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So far Peter Kenny has created 56 blog entries.

Reality Check for Investors

Virtually all the enthusiasm that greeted President Trump's victory in Q4 has been exhausted. The euphoria that defined our equity market performance into year end has run head on into a brick wall. We are in the midst of a reality check that is being fueled by investor realization that campaign promises are an entirely [...]

By |2017-05-23T14:24:02+00:00May 23rd, 2017|Uncategorized|

FOMC, Earnings and Data Headline

US equity market posted meaningful gains at the outset of last week due in large part to the first round French election results and better than expected corporate results, particularly, from large cap tech and industrial names. The first round of the French election has delivered an outcome that investors appear comfortable with; it was [...]

By |2017-05-05T16:30:57+00:00May 5th, 2017|Uncategorized|

Markets Have a lot to Digest

Markets did not wince after receiving the March Employment Report on Friday, despite a top line gain in employment for the month (98k) that was significantly below consensus expectations (175k). In fact, equity market trading did not appear to reflect any investor concern about either the jobs miss or Trump's military action taken against Syria [...]

By |2017-04-11T13:40:41+00:00April 11th, 2017|Uncategorized|

Trump Rally Limps then Stumbles

Investors spent much of late last week digesting Wednesday's equity market reset in hopes that the Trump trade remains intact. Unfortunately, Thursday and Friday provided little in the way of encouragement as prices languished and the GOP's efforts at repeal and replace failed miserably. Adding additional overhang to the market is crude oil pricing which remains [...]

By |2017-03-28T18:45:05+00:00March 28th, 2017|Uncategorized|

On the Horizon

Despite the collective horror that the UK terror attack has rightly provoked, these events have not shown to have an impact on the markets. However, with speculation in regards to the near term interest rate narrative behind us for the next couple months and with Q4 earnings season wrapping up, investors will rotate their collective [...]

By |2017-03-24T02:43:17+00:00March 24th, 2017|Uncategorized|

What, if anything, does the ECB’s current outlook on interest rates and near term monetary policy tell us about the health of the global economy?

Since the onset of the financial crisis and its subsequent reverberations through the global economy, the European economy has been severely tested. Not only did the financial crisis, in and of itself, lead to the most risk-off investing landscape on the continent since WWII, peripheral economic contagion triggered aggressive monetary response from Greece to Portugal [...]

By |2017-03-14T11:41:40+00:00March 14th, 2017|Uncategorized|

Marching Markets

Better than expected Q4 corporate results, positive economic results, healthy signs of inflation, range bound 10-year yields and a promise by President Trump to deliver a long sought after business tax code reform continue to give investors confidence and markets a lift. The backdrop for US equities, as we begin the week, is decidedly upbeat [...]

By |2017-02-23T19:30:01+00:00February 23rd, 2017|Uncategorized|

Does the rally Still Have Legs?

After a modest reset, that I called for in last Monday's note, we did see a meaningful reversal on Friday as equities posted their largest advance of the week. Net/net, US equity prices, on balance, were largely unchanged on a week-over-week basis. So where is the rally headed? Sam Stovall, CFRA Chief Investment Strategist, noted that, [...]

By |2017-02-07T13:39:25+00:00February 7th, 2017|Uncategorized|

One Direction Higher?

Stock market performance in the 6 weeks following President Trump's victory is the best among all elections since 1900. Equity traders and investors appear to have locked into a trade that has but one direction - higher. On Friday, the NASDAQ closed at 5660.78 while the S&P 500 (2294.60) and Dow Industrials (20,093.78) closed at [...]

By |2018-01-29T13:56:33+00:00February 1st, 2017|Uncategorized|